Turning Point Brands (NYSE:TPB) Stock Price Down 2.8% - Here's Why

Turning Point Brands, Inc. (NYSE:TPB - Get Free Report) traded down 2.8% on Monday . The company traded as low as $58.13 and last traded at $59.00. 26,774 shares were traded during trading, a decline of 80% from the average session volume of 131,170 shares. The stock had previously closed at $60.71.

Analysts Set New Price Targets

A number of research analysts have recently commented on TPB shares. Benchmark increased their price target on Turning Point Brands from $45.00 to $65.00 and gave the company a "buy" rating in a research note on Tuesday, November 12th. Roth Mkm reiterated a "buy" rating and issued a $70.00 target price (up from $55.00) on shares of Turning Point Brands in a research report on Tuesday, December 17th. Roth Capital upgraded Turning Point Brands to a "strong-buy" rating in a report on Friday, November 8th. Craig Hallum upped their price objective on Turning Point Brands from $60.00 to $75.00 and gave the company a "buy" rating in a research note on Thursday, December 5th. Finally, Oppenheimer began coverage on shares of Turning Point Brands in a research report on Thursday, November 14th. They set an "outperform" rating and a $65.00 target price on the stock. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $68.75.

Turning Point Brands Stock Down 5.9 %

The stock has a 50-day moving average price of $58.28 and a 200-day moving average price of $45.67. The company has a market capitalization of $1.01 billion, a P/E ratio of 22.66 and a beta of 0.66. The company has a debt-to-equity ratio of 1.33, a current ratio of 4.21 and a quick ratio of 1.78.

Turning Point Brands (NYSE:TPB - Get Free Report) last released its earnings results on Thursday, November 7th. The company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.01. Turning Point Brands had a net margin of 11.63% and a return on equity of 33.14%. The business had revenue of $105.62 million for the quarter, compared to analyst estimates of $100.71 million. During the same quarter in the previous year, the business earned $0.69 earnings per share. Turning Point Brands's revenue for the quarter was up 3.8% on a year-over-year basis. On average, research analysts predict that Turning Point Brands, Inc. will post 2.59 EPS for the current fiscal year.

Turning Point Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 20th will be paid a dividend of $0.07 per share. The ex-dividend date is Friday, December 20th. This represents a $0.28 annualized dividend and a yield of 0.49%. Turning Point Brands's dividend payout ratio is currently 11.11%.

Institutional Trading of Turning Point Brands

Several large investors have recently modified their holdings of TPB. JPMorgan Chase & Co. grew its holdings in Turning Point Brands by 84.5% in the third quarter. JPMorgan Chase & Co. now owns 123,079 shares of the company's stock worth $5,311,000 after purchasing an additional 56,364 shares during the period. 272 Capital LP bought a new position in shares of Turning Point Brands during the 3rd quarter worth about $1,488,000. Barclays PLC grew its stake in shares of Turning Point Brands by 298.6% in the 3rd quarter. Barclays PLC now owns 29,274 shares of the company's stock valued at $1,262,000 after buying an additional 21,930 shares during the period. Geode Capital Management LLC increased its position in Turning Point Brands by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 405,613 shares of the company's stock valued at $17,506,000 after buying an additional 15,344 shares in the last quarter. Finally, First Sabrepoint Capital Management LP acquired a new position in Turning Point Brands during the 3rd quarter worth approximately $7,517,000. Institutional investors and hedge funds own 96.12% of the company's stock.

About Turning Point Brands

Turning Point Brands, Inc, together with its subsidiaries, manufactures, markets, and distributes branded consumer products. The company operates through three segments: Zig-Zag Products, Stoker's Products, and Creative Distribution Solutions. Zig-Zag Products segment markets and distributes rolling papers, tubes, finished cigars, make-your-own cigar wraps, and related products, as well as lighters and other accessories under the Zig-Zag brand.